Forgive me if this is yet another question on finance (which I am sure you are all sick of) Fairly new here and this is my first post.

I am looking at an unregulated PCP over 4 years, 10K miles per year, £5k deposit on a new 3.0D HSE Dynamic (with a few extras) Have been given a quote of £812 per month with an optional final payment of £38,613. APR working out at 4.9%

The above has been arranged via Fultons with the finance itself through Alphabet.

I would appreciate any thoughts on the above before I sign anything.

Cheers

Wed Aug 09 2017 2:19pm

james5599

Member Since: 14 Jun 2009
Location: london
Posts: 319

The word that would stand out from the above would be unregulated.

Doesn't that mean if you wanted to settle the agreement early they can just charge you what they feel like?!

Wed Aug 09 2017 4:42pm

dlav

Member Since: 09 Aug 2017
Location: Windsor, Berkshire
Posts: 3

Hi James,

Thanks for the reply. Must admit I'm not entirely sure hence my research and asking on here. I'm a regular with PCP agreements but I have never used an unregulated one before. Im going through the small print as we speak and have found the following:

"You may end this agreement early at any time and keep the Vehicle by paying the Total Amount Payable shown under "Key Financial Information" and any other sums which have become payable less the payments you have already made."

I take that to mean (I think) that they will take my total amount of credit payable minus payments already made, which (again I think) is a normal method of calculating PCP settlements. As far as I can tell the big difference with an unregulated PCP is that you have no automatic right to withdraw from the agreement once you hit the half way point.

If anyone has any experiences similar to the above I would gladly like to hear about it - one way or the other.

An interesting read indeed. Aside, I do find it odd that people don't at least work out their minimum break out point in advance with these deals (or not in the case of an un-regulated)

Appreciate any other thoughts.

Cheers

Wed Aug 09 2017 5:34pm

geoffsnook

Member Since: 19 Nov 2016
Location: cardiff
Posts: 1486

Stay away from such a deal i think

Wed Aug 09 2017 5:52pm

DrRob

Member Since: 23 Feb 2011
Location: Hampshire
Posts: 1531

Why bother when you can do it properly with a regulated one Visitor from fullfatrr.com
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1949 Series One 80" in family since 1975! Where it all began.....